rssWhite House Economist: ‘No Reason’ to Alter Cash for Clunkers
Friday, July 31, 2009 at 1:26 pm
- 3 Comments
House lawmakers are on the floor as we speak debating a bill to provide $2 billion more to what proved to be a tremendously popular cash for clunkers program. And, while some lawmakers would like to see the conditions of that program changed to encourage the purchase of more fuel efficient cars, White House economist Jared Bernstein just told MSNBC that the administration likes the guidelines just as they are.
“I don’t think there’s any reason to go out and change the rules,” he said.
Right. Why change a program that provides $4,500 in taxpayer money to drivers who trade their 14-mpg GMC Sierras for brand new 16-mpg Hummer H3s? So much for the environmental benefits of the program.
3 Comments
Comment posted July 31, 2009 @ 5:51 pm
That's not a good example, and it illustrates the problems with miles per gallon as a measurement. Going from a 14 MPG to 16 MPG is the equivalent of going from a 30 MPG vehicle to a 40 MPG vehicle, in terms of gallons of gas saved. Do the math yourself on 12,000 annual miles of driving.
Comment posted July 31, 2009 @ 7:28 pm
Jared Bernstein is right. According to House Global Warming Chairman Ed Markey, actual statistics from the program show unexpectedly big fuel economy benefits:
–During the week that the ‘Cash for Clunkers’ program was launched, GM’s small car sales increased 54.8 percent over the preceding week.
–The leading Ford vehicle being purchased under the program is the 28 mpg Ford Focus at nearly 30 percent of all Ford sales.
–Toyota reports that 78% of their Cash for Clunkers volume were the Corolla, Prius, Camry, RAV 4 and Tacoma, with a resulting average of 30 mpg.
–Hyundai is reporting a 59 percent increase in fuel economy compared to the old vehicle—which averaged 140,000 miles.on the actual
http://markey.house.gov/index.php?option=com_co…
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